{"id":386450,"date":"2019-06-18T00:00:51","date_gmt":"2019-06-18T00:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=386450"},"modified":"2024-06-11T13:44:17","modified_gmt":"2024-06-11T13:44:17","slug":"bitcoin-historical-analysis-signals-that-btc-could-surge-to-62k-later-this-year","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-historical-analysis-signals-that-btc-could-surge-to-62k-later-this-year\/","title":{"rendered":"Bitcoin Historical Analysis Signals That BTC Could Surge to $62k Later This Year"},"content":{"rendered":"
Bitcoin (BTC) is currently taking a breath and trading sideways after incurring massive buying pressure over the past couple of days that sent it surging into the $9,000 region, where it set fresh year-to-date highs.<\/p>\n
This upwards momentum confirms that Bitcoin is currently in a firm uptrend, and analysts are now noting that the cryptocurrency could surge significantly higher in the near future, based on a historical analysis.<\/p>\n
At the time of writing, Bitcoin<\/a> is trading up 2% at its current price<\/a> of just below $9,300, up significantly from 24-hour lows of roughly $8,800.<\/p>\n While looking at BTC over a one-week period, it becomes abundantly clear that the cryptocurrency\u2019s bulls are currently in full control, as it has been able to surge from lows of $7,800 to highs of over $9,300.<\/p>\n This upwards momentum marks a significant extension of the buying pressure that Bitcoin first incurred in early-April when it was trading at $4,000.<\/p>\n As for where this upwards momentum could lead BTC in the near future, it now appears that the next two major levels of resistance exist at $9,500 and $11,500.<\/p>\n DonAlt, a popular cryptocurrency analyst on Twitter, spoke about these aforementioned levels of resistance in a recent tweet, also noting that although BTC could dip to $8,000, significant buying pressure currently exists below that price level.<\/p>\n \u201c$BTC weekly update: Strong weekly close engulfing the price action of last week. The only two significant resistances left are ~9500 and ~11500. A potential buy the dip area is ~8000. Loads of support below. Next support: 8000-8400 Next resistance: 9350-9550,\u201d he explained.<\/p><\/blockquote>\n $BTC<\/a> weekly update:<\/p>\n Strong weekly close engulfing the price action of last week. Next support: 8000-8400 — DonAlt (@CryptoDonAlt) June 17, 2019<\/a><\/p><\/blockquote>\n\n
The only two significant resistances left are ~9500 and ~11500.
A potential buy the dip area is ~8000.
Loads of support below.<\/p>\n
Next resistance: 9350-9550 pic.twitter.com\/zJtfyoun2F<\/a><\/p>\n